NorthRock Partners LLC Increases Stock Holdings in Emerson Electric Co. $EMR

NorthRock Partners LLC boosted its position in shares of Emerson Electric Co. (NYSE:EMR) by 2.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,288 shares of the industrial products company’s stock after acquiring an additional 168 shares during the quarter. NorthRock Partners LLC’s holdings in Emerson Electric were worth $972,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in shares of Emerson Electric by 2.7% in the 1st quarter. First Horizon Advisors Inc. now owns 212,252 shares of the industrial products company’s stock valued at $23,271,000 after buying an additional 5,504 shares during the period. Davis Investment Partners LLC purchased a new position in shares of Emerson Electric in the 2nd quarter valued at about $692,000. North Capital Inc. purchased a new position in shares of Emerson Electric in the 1st quarter valued at about $211,000. Golden State Equity Partners purchased a new position in shares of Emerson Electric in the 1st quarter valued at about $459,000. Finally, Truist Financial Corp boosted its stake in shares of Emerson Electric by 1.7% in the 1st quarter. Truist Financial Corp now owns 1,078,616 shares of the industrial products company’s stock valued at $118,259,000 after buying an additional 18,069 shares during the period. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Trading Up 1.2%

NYSE:EMR opened at $129.70 on Wednesday. The firm has a market cap of $73.00 billion, a P/E ratio of 27.89, a PEG ratio of 2.23 and a beta of 1.29. The company has a current ratio of 0.85, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $132.16 and its 200-day simple moving average is $125.51. Emerson Electric Co. has a 12-month low of $90.06 and a 12-month high of $150.27.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings data on Thursday, April 6th. The industrial products company reported $0.79 earnings per share for the quarter. Emerson Electric had a return on equity of 14.34% and a net margin of 14.92%.The firm had revenue of $3.16 billion for the quarter. Equities analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current year.

Emerson Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 15th. Emerson Electric’s payout ratio is presently 45.38%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EMR. Stephens raised their target price on Emerson Electric from $130.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Wells Fargo & Company reissued an “equal weight” rating and set a $140.00 target price (down previously from $150.00) on shares of Emerson Electric in a research report on Monday, October 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Emerson Electric in a research report on Wednesday, October 8th. KeyCorp raised their target price on Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Finally, Jefferies Financial Group cut their price target on Emerson Electric from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.56.

About Emerson Electric

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.